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Monday, 17 April 2017

Sealers Market Size, Share | Industry Trends Analysis Report, 2024

The sealers market in North America is characterized
by the presence of a large number of players and a fragmented
competitive landscape. Transparency Market Research has noted that
some of the top companies in this market have been depending on high
product differentiation and extensive research and development to
expand their businesses and maintain their share in the North America
sealers market.

“New players are focused on the development of
bio-based and acrylic sealers, while existing players are engaged in
the development of next-gen, highly efficient, and inexpensive
sealers,” the author of the study observes. Companies have also
been focusing on expanding their businesses through strategic mergers
and acquisitions. GuardTop, for instance, acquired Rockmart of
Blacklidge Emulsion Inc. in January 2015 to expand its footprint in
Southeast America. The company now has access to the emerging markets
of Alabama, Georgia, Mississippi, Florida, Tennessee, and the
Carolinas.

The opportunity in the sealers market in North
America stood at US$405.7 mn in 2015 and is estimated to be worth
US$609.3 mn by 2024, registering a 4.7% CAGR from 2016 to 2024. The
demand, on the other hand, is projected to reach 572.9 kilo tons by
the end of the forecast period.

U.S. Emerges as Leading Market for Sealers in
North America

Accounting for a share of over 86% in 2015, the U.S.
was the leading country-wise market for sealers in the region. In
terms of revenue, the sealers market in the U.S. is projected to
expand at a 4.9% CAGR from 2016 to 2024.

On the basis of application, sealers are largely used
in driveways and parking lots. Based on product, bitumen and asphalt
held the leading share of over 43% at the start of the forecast
period. Although coal tar will continue to hold a significant share
in the overall sealers market, its demand is projected to decrease
over the coming years with recent bans on its usage in several states
in the U.S.

Increase in Vehicle Footprint Spurs Demand for
Sealers

Sealers are extensively used in driveways and parking
lots as offer a host of advantages, including lower fuel and water
infiltration, added aesthetics, and improved lifecycle of the paved
material. “The growth of the sealers market in North America is
primarily dependent on the growth of the automotive industry,” the
lead analyst states. “The rising presence of vehicles in the region
has warranted the demand for parking lots, driveways, and garages,
thereby driving the demand for sealers.”

The demand is likely to witness a consistent rise
over the years with the need to maintain the superior performance and
appearance of such construction projects.

On the other hand, the sealers market in North
America is projected to be hampered by the ban on coal tar sealers in
several states across the U.S. Coal tar sealers are one of the
leading and most potent sources of polycyclic aromatic hydrocarbons
(PAH), the presence of which is known to harm living organisms in the
vicinity. As a result, several organizations in the region have
banned their usage in many applications. The decreasing consumption
of coal tar sealers is thus adversely impacting the market in North
America.

This review is based on the findings of a TMR report
titled “Sealers Market: North America Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016-2024.”

North America Sealers Market, by Product

Coal Tar

Acrylic

Bitumen & Asphalt

Others (Including polyurethanes, silicone,
epoxy based sealers)

North America Sealers Market, by Application

Pavement & Blocks

Driveway & Parking Lots

Other (Including airport, sports track,
etc.)

North America Sealer Market, by Country

U.S.

Canada

Mexico

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